The U.S. and China fulfilled expectations that the countries would agree to resume trade talks after President Donald Trump met with Chinese leader Xi Jinping at the G20 summit in Osaka, Japan, Tuesday.
“We discussed a lot of things, and we’re right back on track,” Trump told reporters according to The New York Times.
Trump said the U.S. would not levy an additional $300 billion in tariffs on Chinese products ahead of the talks, reported The NYT. Trump also said he would let American companies continue to work with Chinese telecom giant Huawei, which BBC characterized as a “a move seen as a significant concession.”
Trump also said Saturday that China would start buying large amounts of U.S. farm products and other goods, reported The NYT.
The seeming truce comes after Trump said Monday he was considering slapping China with more tariffs if Xi did not meet with him during the G20 summit.
“China is going to make a deal because they are going to have to make a deal,” Trump said June 10, weeks before the G20 summit.
This isn’t the first time a trade truce has been touted after U.S. and China leaders met at a G20 summit. Trump agreed to delay imposing 25 percent tariffs on a wide swath of Chinese goods after a dinner meeting with Xi in December 2018, reported The Guardian.
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